India and Japan underscore need to enhance and diversify bilateral trade and investment

The 7th Joint Committee Meeting under the India-Japan Comprehensive Economic Partnership Agreement (CEPA) was held on 2 March 2026 in Tokyo, Japan. The meeting was co-chaired by Secretary, Department of Commerce, Rajesh Agrawal, Government of India, and the Senior Deputy Minister, Ministry of Foreign Affairs, Government of Japan. Both sides reviewed issues relating to the implementation of the CEPA and deliberated on ways to further strengthen bilateral economic engagement. During the meeting with the METI Vice Minister, Agrawal highlighted the shared vision articulated by the leaders of both countries during the Annual Summit in August 2025 and underscored the need to enhance and diversify bilateral trade and investment.

 

He emphasized the strong complementarities between the two economies-Japan's strengths in technology, capital, and advanced manufacturing, and India's skilled workforce, large market, and rapidly growing economy. He stressed the importance of harnessing the full benefits of the CEPA, including the movement of natural persons as envisaged during the Leaders' Summit. Agrawal noted the significant potential for growth in Indian exports to Japan in sectors such as textiles, pharmaceuticals, agriculture, and services. He also underlined the importance of achieving a more balanced bilateral trade relationship to ensure long-term sustainability.

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